Current price per share is cause by the old elite management. So all of you are really lucky to buy it at this price. In the webcast, New Management state they have turn the old elite company around from no drugs to 3 fda approved drugs. The New Elite Company is now in good standing. Share price will reflect soon.
Here is what's going on for Elite.
1) Elite Just Launch FDA Approved Diet Drug.
2) LARGE INSIDERS BUY. CEO AND DIRECTORS ARE ALL BUYING. Check Yahoo Market Pulse to see insider buys.
3) ELITE IS IN GOOD STANDING WITH NJEDA BOND DEBT, ELITE MAKE MARCH PAYMENT IN FULL
4) LAW SUIT IS NOW SETTLED.
5) 20 DRUGS IN PIPELINE. A 6 BILLION DOLLAR MARKET
6) 3 FDA APPROVED DRUGS. Company expect to launch soon.
7) Elite is making Oxycodone drug, in the Billions Dollar market value. Oxycodone in phase 3
8) In discussion to license drug with a European partner.
9) EPIC PHARMA HUGE INVESTMENT IN ELITE - largest contract manufacturer in the United States.
10) Epic pharma to develope 8 more drugs with Elite.
11) In Most Recent Quarter, Elite Report revenues up, Operating Profit Achieved.
12) 106 MILLION SHARES TOTAL. NOW ONLY 66 MILLION FLOAT SHARES ARE TRADABLE.
SEE NEWS LINKS
We are so lucky to buy it at this price. I believe MM has been shorting from the old elite management days, they make a big mistake when new management takes over, they are trying to hold it down so they can buy back and cover. With the low float, MM must cover soon, MM very tricky and a big run up could happen anyday.